Home / Knowledge / News / Textiles / Disbursal of long awaited revival fund to begin from next month
Disbursal of long awaited revival fund to begin from next month
Feb '09
Finally, the long awaited N70 billion textile industry revival fund will be released by the government from early next month. This was announced by the Minister of State for Finance, Mr Babalola at a meeting of the joint senate committee on Banking, Finance and Insurance.

Mr Babalola said that despite the fact that the manufacturing industry contributes only 3 percent to the Gross Domestic Product (GDP), there was an urgent need to help and bail out the textile industry which provides employment to more than 500,000 people, whose jobs are at stake if measures are not undertaken.

The Nigerian textile and garment industry, which has seen better times in the recent past, has been afflicted by smuggled goods, which have overtaken the domestic products in terms of popularity and the minister called upon the border authorities to tighten controls at border check posts to check infiltration of the same.

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Polartec

Textiles | On 28th Oct 2016

Polartec innovates most breathable waterproof fabric

Polartec, the premium provider of innovative textile solutions, has...

Marzoli FT6D roving frames in Sintex’s Unit 2. Coutresy: Marzoli

Textiles | On 28th Oct 2016

Marzoli roving frames erected at Sintex textile division

A total of 48 Marzoli roving frames were erected in units I, II and...

Textiles | On 27th Oct 2016

Teijin Frontier develops Solotex RC lightweight fibre

Teijin Frontier Co. Ltd, fibre products converting company and part...

Interviews View All

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Giovanni Pizzamiglio, Paolo Crespi & Riccardo Robustelli
Epson, For.Tex & F.lli Robustelli

‘The percentage share of printing in the global textile market is pretty...

Veronique Lee

‘Sustainable fashion is trending upwards, slowly but surely, as people...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Jay Ramrakhiani
Occasions Elegance Wear

It is believed that by early 19th century, Varanasi weavers had moved away ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


Letter To Editor

(Max. 8000 char.)

Search Companies

October 2016

October 2016

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Browse Our Archives


Advanced Search